Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0650%/8h= +71.2% APRpaid last 24h +0.267%

Price spread now: Kraken Futures against BingX+0.083%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.806%+$81 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.083% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.5574	0.0100	pay 0.0050% / 4h	56m 53s	—	$3.6M	—
Short	Kraken Futures PF_CAKEUSD	2.5595	0.0750	get 0.0094% / 1h	56m 53s	$57K	$37K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.083%Rate

Funding earned: $136.55
Price spread: +0.083% → 0.000%: $8.34
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $124.89
Costs to cover: 0.200%
Break-even: 0.6 days

Slippage unknown: BingX: live order book, 3 min ago; Kraken Futures: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 3 min ago	2.55 bp	8.1 bp −$8	10.4 bp −$104	26.8 bp −$2,680	50.9 bp −$25.5K
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CAKE on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_CAKE_USDC	+0.0024%	4h	2.5573	−0.004%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.524%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0063%	4h	2.5557	−0.066%	$999K	$364K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5614	+0.156%	$3.2M	$2.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5588	+0.056%	$2.4M	$82K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5575	+0.004%	$18.4M	$36.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5570	−0.016%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5563	−0.043%	$894K	$751K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5574	0.000%	$14.1M	$2.7M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5588	+0.055%	$2.5M	$5.6M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5592	+0.070%	$2.7M	$2.7M	75x	as long as short
BingX CAKE-USDTlong	+0.0100%	4h	2.5574	long leg	—	$3.6M	—
Variational Omni CAKE	+0.0100%	4h	2.5522	−0.205%	$535K	$480K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5544	−0.117%	$13K	$700K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0422% / S −0.0272%	1h	2.5589	+0.059%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0750%	1h	2.5595	+0.083%	$57K	$37K	10x